26 February 2008
FRINGE BENEFIT TAX IS TAX WHICH IS IMPOSED ON THE BENEFITS PROVIDED BY THE EMPLOYER TO EMPLOYEE. FBT IS PAYABLE BY COMPANY OR FIRM AND NOT BY EMPLOYEES WHEREAS PERQUISITE IS THE BENEFIT PROVIDED BY THE EMPLOYER TO EMPLOYEE IN ADDITION TO HIS SALARY,IT IS NOT A TAX ,THOUGH TO SOME EXTENT IT MIGHT BE TAXABLE IN IN HAND OF EMPLOYEE AND ADDED TO THEIR GROSS TOTAL INCOME UNDER THE HEAD SALARIES
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